9,537 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Creekside Partners

Creekside Partners bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,537 shares of the financial services provider’s stock, valued at approximately $566,000.

A number of other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. raised its position in Wells Fargo & Company by 978.9% during the fourth quarter. Eagle Asset Management Inc. now owns 135,003 shares of the financial services provider’s stock worth $6,645,000 after acquiring an additional 122,490 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $594,000. Jones Financial Companies Lllp raised its position in shares of Wells Fargo & Company by 32.2% during the 4th quarter. Jones Financial Companies Lllp now owns 14,886 shares of the financial services provider’s stock worth $733,000 after purchasing an additional 3,629 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $285,000. Finally, Capital World Investors grew its holdings in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after buying an additional 263,176 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.9 %

WFC opened at $55.42 on Wednesday. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm has a 50 day moving average price of $55.60 and a 200 day moving average price of $57.79. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $193.21 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.89%. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.24.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.